Micron Technology (MU) Shares Gap Up to $38.24

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Micron Technology, Inc. (NASDAQ:MU) shares gapped up prior to trading on Thursday . The stock had previously closed at $38.18, but opened at $38.24. Micron Technology shares last traded at $38.29, with a volume of 21150984 shares traded.

A number of analysts have recently issued reports on MU shares. BidaskClub raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Zacks Investment Research cut shares of Micron Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. KeyCorp cut their target price on shares of Micron Technology from $61.00 to $45.00 and set an “overweight” rating for the company in a research note on Wednesday, December 19th. MKM Partners cut their target price on shares of Micron Technology from $50.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Finally, Mizuho cut their target price on shares of Micron Technology to $54.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $59.52.

The company has a market capitalization of $41.92 billion, a P/E ratio of 3.21, a price-to-earnings-growth ratio of 0.77 and a beta of 1.69. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. The business had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. During the same period last year, the company posted $2.45 EPS. Analysts anticipate that Micron Technology, Inc. will post 7.7 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in MU. Capital World Investors bought a new stake in shares of Micron Technology in the 3rd quarter valued at about $1,136,492,000. AQR Capital Management LLC raised its holdings in shares of Micron Technology by 75.5% in the 3rd quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock valued at $1,290,438,000 after purchasing an additional 12,269,445 shares in the last quarter. Sanders Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at about $159,335,000. Federated Investors Inc. PA raised its holdings in shares of Micron Technology by 2,576.5% in the 3rd quarter. Federated Investors Inc. PA now owns 1,475,026 shares of the semiconductor manufacturer’s stock valued at $66,717,000 after purchasing an additional 1,419,915 shares in the last quarter. Finally, Janus Henderson Group PLC raised its holdings in shares of Micron Technology by 15.8% in the 3rd quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock valued at $429,725,000 after purchasing an additional 1,294,408 shares in the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.

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Micron Technology Company Profile (NASDAQ:MU)

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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